Sidoti Downgrades Hibbett Sports Inc. (HIBB) to Neutral
Hibbett Sports Inc. (NASDAQ:HIBB) was downgraded by research analysts at Sidoti from a “buy” rating to a “neutral” rating in a report issued on Friday.
Other research analysts have also recently issued reports about the stock. Brean Capital reaffirmed a “sell” rating and issued a $33.00 target price on shares of Hibbett Sports in a report on Monday, August 22nd. Deutsche Bank AG reaffirmed a “hold” rating and issued a $47.00 target price on shares of Hibbett Sports in a report on Thursday, August 25th. Piper Jaffray Cos. dropped their target price on shares of Hibbett Sports from $51.00 to $41.00 and set a “neutral” rating for the company in a report on Thursday, August 25th. Zacks Investment Research raised shares of Hibbett Sports from a “hold” rating to a “buy” rating and set a $46.00 target price for the company in a report on Monday, October 24th. Finally, Goldman Sachs Group Inc. reaffirmed a “sell” rating on shares of Hibbett Sports in a report on Monday, August 15th. Four investment analysts have rated the stock with a sell rating, eleven have given a hold rating and four have issued a buy rating to the stock. Hibbett Sports currently has an average rating of “Hold” and a consensus price target of $39.00.
Shares of Hibbett Sports (NASDAQ:HIBB) opened at 40.35 on Friday. Hibbett Sports has a 52-week low of $28.23 and a 52-week high of $45.85. The stock’s 50 day moving average is $40.77 and its 200 day moving average is $37.48. The stock has a market cap of $887.18 million, a price-to-earnings ratio of 13.16 and a beta of 0.85.
Hibbett Sports (NASDAQ:HIBB) last posted its quarterly earnings results on Friday, November 18th. The company reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by $0.08. The firm had revenue of $237 million for the quarter. Hibbett Sports had a return on equity of 20.53% and a net margin of 6.84%. The firm’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.79 earnings per share. On average, equities analysts expect that Hibbett Sports will post $3.00 earnings per share for the current fiscal year.
In other news, Director Michael J. Newsome sold 10,000 shares of the firm’s stock in a transaction on Thursday, October 13th. The shares were sold at an average price of $39.97, for a total value of $399,700.00. Following the transaction, the director now owns 29,882 shares of the company’s stock, valued at approximately $1,194,383.54. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Albert C. Johnson sold 1,000 shares of the firm’s stock in a transaction on Wednesday, August 24th. The shares were sold at an average price of $38.81, for a total transaction of $38,810.00. Following the completion of the transaction, the director now directly owns 4,837 shares in the company, valued at approximately $187,723.97. The disclosure for this sale can be found here. 2.50% of the stock is currently owned by company insiders.
Several institutional investors have recently modified their holdings of the stock. Aberdeen Asset Management PLC UK increased its position in shares of Hibbett Sports by 60.4% in the second quarter. Aberdeen Asset Management PLC UK now owns 543,067 shares of the company’s stock worth $18,894,000 after buying an additional 204,526 shares in the last quarter. Henderson Group PLC increased its position in shares of Hibbett Sports by 57.7% in the second quarter. Henderson Group PLC now owns 297,948 shares of the company’s stock worth $10,366,000 after buying an additional 109,053 shares in the last quarter. Hood River Capital Management LLC increased its position in shares of Hibbett Sports by 97.1% in the second quarter. Hood River Capital Management LLC now owns 264,666 shares of the company’s stock worth $9,208,000 after buying an additional 130,410 shares in the last quarter. Monarch Partners Asset Management LLC acquired a new position in shares of Hibbett Sports during the second quarter worth approximately $2,008,000. Finally, Bank of Montreal Can acquired a new position in shares of Hibbett Sports during the second quarter worth approximately $135,000.
Hibbett Sports Company Profile
Hibbett Sports, Inc operates sporting goods stores in small to mid-sized markets in the South, Southwest, Mid-Atlantic and Midwest regions of the United States. The Company operates approximately 1,040 stores in over 30 states, which consists of approximately 1,020 Hibbett Sports stores and over 20 Sports Additions athletic shoe stores.
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